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New Member
posted Jun 1, 2019 10:04:58 AM

Can I deduct money that I have invested in a business that my son is trying to start?

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1 Best answer
Level 3
Jun 1, 2019 10:05:00 AM

No, investments are not deductible until you sell your investment then it is deducted from your selling price to arrive at your profit. 

Also, if you are not getting a share of the business for the investment, this is likely a gift which is also not deductible. 

1 Replies
Level 3
Jun 1, 2019 10:05:00 AM

No, investments are not deductible until you sell your investment then it is deducted from your selling price to arrive at your profit. 

Also, if you are not getting a share of the business for the investment, this is likely a gift which is also not deductible.